$ETH Evening Thoughts:
No matter if it's Bitcoin or Ethereum, I am currently bullish. If Bitcoin rises, Ethereum has no reason not to follow. A classmate asked me:
You've been bullish for several days, so why isn't the market rising? How can I answer your question?
Just because I'm bullish, does that mean the market will immediately rally? Just because I'm bullish on Bitcoin does it mean it can rise by $10,000 instantly, or Ethereum can rise by $5,000 instantly?
You have to wait for it to break through the resistance level before it can start to rise, right? I just regret that I'm not Trump; otherwise, I would definitely satisfy your request.
😊
Talking through the charts: If we look at Ethereum on the hourly level according to wave theory, it is currently in the 3rd wave of an upward trend. Where this 3rd wave will go is uncertain, but if there is a pullback, it must not break below the low of the 2nd wave. If the low of the 2nd wave is broken, this 5-wave upward trend will declare failure.
😊
With significant volume, if Ethereum breaks above 2427, we chase the long position on the right side; if it breaks below 2420 with significant volume, we chase the short position on the right side. Pay attention to the changes in volume and set a good stop loss.
On the hourly level, Ethereum can stabilize above 2433 and continue to look up towards 2463-2501; only by breaking above 2433 can we look upwards.
On the 4-hour level, if it breaks down below 2391, we look down towards 2349-2315.
Continuing to look at the chart: On the daily level for Ethereum, if it can break through the two candlesticks circled in yellow, it will rise to a higher level, and Ethereum will break away from the current consolidation zone and move to a higher consolidation zone. If there's no market movement, patiently wait for the market, and the meeting is adjourned.